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Trump Secures Second Term with Historic Comeback, Reshaping U.S. Political Landscape

USA 07.11.2024
Source: DairyNews.today
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In a historic political comeback, Donald Trump has won a second term in the White House, sweeping all key battleground states and reclaiming the presidency after his 2020 defeat.
Trump Secures Second Term with Historic Comeback, Reshaping U.S. Political Landscape
Trump’s victory solidified the GOP's transformation under his leadership, cementing its appeal among rural, working-class, and minority voters. The win, which sees Trump become the first candidate in more than a century to serve nonconsecutive terms, caps a dramatic electoral comeback and ushers in a new phase for U.S. domestic and foreign policy.

Key Electoral Outcomes
Trump’s win was built on solid victories across the Rust Belt and Sun Belt, including North Carolina and Georgia. Although results are still pending in Nevada and Arizona, Trump is expected to surpass 300 electoral votes. Strong rural support, especially from those critical of Biden administration policies, helped Trump reclaim ground.

His renewed presidency comes with a Republican majority in the Senate, projected to secure 53-56 seats with major wins in West Virginia, Ohio, Montana, and Michigan. Republican control of the House, however, remains uncertain due to a handful of close races, particularly in California.

Political Realignment Under Trump
The GOP’s coalition has solidified around a more diverse and economically focused base, including higher support from younger Black men, Hispanic voters, and rural Americans. According to AP VoteCast, Trump captured 55% of the vote among non-college-educated voters, marking an increase from his 2020 campaign.

The Republican platform now centers on economic, immigration, and energy policies, aligning with Trump’s support among working-class voters. “America has given us an unprecedented and powerful mandate,” Trump said, announcing his victory. He attributed his win in part to his campaign’s successful messaging and strong financial support from backers like Elon Musk, who played a key role in campaign funding and strategy.

Cabinet and Policy Priorities in Trump’s Second Term
Trump’s administration is expected to take a more aggressive stance on foreign policy, shifting from the Biden-Harris approach. Early executive orders are likely to focus on immigration and energy, aiming to reverse Biden-era regulations.

Trump has suggested new Cabinet choices, including the possibility of North Dakota Gov. Doug Burgum for Energy Secretary, with a focus on agricultural and renewable energy policy. On trade, Trump has reaffirmed his intent to push for reciprocal trade agreements, hinting at potential tariffs on imports from countries like China and Mexico. Robert Lighthizer, former U.S. Trade Representative, is anticipated to return to a prominent role, likely in the Commerce or Treasury departments, to drive these initiatives.

Domestic Policy Shifts and Market Reaction
Trump’s reelection is anticipated to prompt changes in regulatory, tax, and investment policies, fueling bullish markets. Wall Street saw an immediate positive response, with banks and brokers benefiting from anticipated regulatory rollback. Treasury yields and the dollar rose sharply, reflecting investor expectations for increased government spending and tariffs that could fuel inflation.

Commodities saw varied responses: oil and precious metals dipped on a stronger dollar, while agricultural markets showed caution over Trump’s trade stance with China. Soybean prices fell over concerns of renewed tariffs, signaling potential disruption in U.S.-China trade.

Bitcoin surged to a record high above $75,000, with markets expecting continued support from both Trump and Musk, a strong advocate of digital currency.

International and Foreign Policy Implications
Trump’s return has sparked varied reactions abroad. Israeli Prime Minister Benjamin Netanyahu celebrated the outcome, calling it “history’s greatest comeback,” while India’s Prime Minister Narendra Modi expressed optimism for continued collaboration. Western allies offered cautious congratulations, with European leaders signaling a diplomatic approach to the renewed U.S. leadership.

In Asia, the Chinese yuan fell, with stocks dipping amid worries of potential new U.S. tariffs on Chinese goods. Trump’s proposed tariffs could pose a significant challenge to Chinese supply chains and broader economic stability.

GOP Senate Majority and Legislative Outlook
Republicans’ strong Senate showing, with likely 53-56 seats, shifts the legislative landscape in Trump’s favor. This majority is expected to ease the path for Trump’s Cabinet confirmations and bolster his agenda on tax cuts and regulatory reforms. Senate moderates may see their influence curtailed, with fewer obstacles to conservative fiscal policies.

Republican Senate leaders, like Sen. Steve Daines, who chaired the National Republican Senatorial Committee, played a critical role in GOP gains, particularly in high-profile races in West Virginia, Ohio, and Montana.

Looking Ahead: Economic and Foreign Policy Impact
Trump’s policy direction will likely emphasize tariffs, reciprocal trade, and a restructured tax code, with higher odds of budget reconciliation measures. Early signs indicate increased trade tensions, especially with China, which could influence global supply chains and ag markets. Domestic economic policies may pivot toward tax incentives for business investment, aiming to stimulate growth and maintain market momentum.

The GOP Senate majority offers Trump significant leverage in shaping the judiciary, and multiple Supreme Court vacancies could further tilt the federal judiciary in a conservative direction.

Trump’s return to the White House is set to reshape U.S. policy at home and abroad, with an administration focused on economic revival, regulatory rollback, and assertive foreign relations. Republicans, now bolstered by Senate gains, hold a strong hand in Congress, and Trump’s win will drive a fresh wave of policy changes, underscoring a significant political and economic realignment in America’s future.

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